Monday, February 11, 2013

It all started innocently enough last night, Russel pointing out NZ's decision not to print more money when every other major central bank is turning on the printing presses makes us the joke rather than Key's constant waving around of a Zimbabwean super inflated dollar claiming that's the Greens financial manifesto...

...and then, out of no where, Trev just goes a bit bloody mental...

...which of course opens the floodgates and it's all on, like a WBA International Heavyweight Title Fight, except this one goes the full 12 rounds and it's pretty clear who will be testing positive for the uppers and downers...

I appreciate the Labour Party despise blogs and that no one in the party apparently reads them, but do they have any actual social media protocols? Could I suggest some basic ones like, don't let bloody Trev near twitter after work hours, or during work hours or actually at any time of the day or night.

Having Labour's top shit kicker rumbling with the leader of the Greens in such a public forum is bewildering. Utterly bewildering.

10 Comments:

Russel Norman scares the bejesus out of me. Because he clearly doesn't understand the fundamentals of credit and money creation.I'll try and explain it to you (I said TRY).If you have 10,000 dollars of production and 10,000 dollars of money OR credit with which to buy said production and you emit ANOTHER 10,000 dollars of currency OR credit into the system the price of something MUST RISE - because you have the MORE money chasing the SAME amount of goods. By bringing this ARTIFICIAL pressure on market prices you spur people to produce more. This is what politicians and MMT academics (and Russel Norman) claim is a "virtuous cycle". But they are dead wrong. Because the demand that has led to the increased output is NOT REAL. The REAL purchasing power of the lower and middle classes simply deteriorates. It adversely targets EXACTLY the very people Russel Norman PRETENDS to represent.It does pump the stock market up real good though, and forces people to borrow ever more as prices rise, which is why banksters LOVE QE!

Our idiotic system has us borrowing that 10,000 dollars of money (plus interest) to purchase our own 10,000 dollars of production.

No one has to borrow money. That is what SAVING is meant to be for. You SAVE the SURPLUS wealth that you produced through your labour. Banks, of course, emit credit out of thin air constantly (aka Fractional Reserve Banking), which is bad enough (especially when it is used to create bubbles in things such as houses). Now Russel wants to add to it, 'cos he obviously thinks prices aren't high enough already in this country.

All this talk of economics makes my head hurt. But calling Trevor the DUCK Labours top shit kicker is a bit over the top. Mans a pussy and thats that.As for Norman I will never forget his shrill female like squeal " he stole my flag" .As some one once said, can't remember who, when the battle is over the cowards and the politicians rise to claim power.

So just watched Campbell Live today, and we got 42% food price increase in just 3 years, and are 60% more expensive for the EXACT same goods as fucking London! And we got Russel fucking Norman wanting to pour gasoline on a fire that is clearly already well out of control. Well done Green Party. Well done. Who is your economic policy advisor? Let me guess, Dick Fuld? Ken Lewis? Timothy Geithner?

I've read all the MMT neo-Keynesian bullshit you can imagine plus some (make no mistake that this is NOT REAL Keynesian theory). What the MMT people simply will not understand is that it is all a ZERO SUM GAME. There is no free lunch. Look, if you seriously think that 42% food price inflation (that is 100% due to a combination of Bernanke's QE combined with rampant cronyism from our wonderful National government) is HELPING the poverty situation in NZ, then be my guest: just print up a few 100 trillion NZDs and we'll see where it gets us. Intuitively you already know that it would solve exactly nothing, yet we continue entertaining Russel Norman's crazy QE rants. It completely confounds my mind. I would like to think we are NOT lemmings. Sound money is an absolute fundamental cornerstone of a properly functioning economy.The answers lie in CUTTING the budget deficit (especially the out of control medical expenditure), and INCREASING interest rates (which will destroy the crazy misdirection of surplus capital into the ZERO economic benefit that is housing).

Also instituting import tariffs on any and all goods that are produced in a non-sustainable manner, that exploit labour and/or the environment in direct opposition to out labour and environment laws would also be an absolute must. That will put an instant stop to the outsourcing of NZ manufacturing. Certainly I acknowledge that my measures will come with a MASSIVE economic recession/depression, but we MUST do something before far more draconian economic measures are forced on us by the utterly indifferent reality of mathematics.